NEXO BTC NEXO Technical Analysis

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By Frans van Elst

NEXO logo In this NEXO technical analysis, we will examine the current price action, trading volume, key levels and indicators for NEXO-BTC. NEXO is a fast-growing cryptocurrency that offers a unique blend of decentralized finance (DeFi) and non-fungible tokens (NFTs). Its innovative features, such as its proof-of-stake consensus algorithm and flexible collateralization options, have attracted a growing number of users and investors. With a strong focus on community engagement and development, NEXO is poised to continue making waves in the cryptocurrency market.

NEXO Price Overview:

As of December 05, 2023, NEXO is trading at approximately 2e-05 BTC. Let’s dive into the detailed price action for NEXO-BTC:

Explore potential downturns for NEXO (NEXOBTC) at 1.92e-05 BTC, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.

Metric Value
Open (O) 2e-05
High (H) 2e-05
Low (L) 2e-05
Close (C) 2e-05
Volume (C) 309,920.19
  • Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
  • High (H): NEXO reached a daily high of around 2e-05 BTC.
  • Low (L): The daily low for NEXO-BTC was approximately 2e-05 BTC.
  • Close (C): At the time of analysis, NEXO is trading near its daily close of 2e-05 BTC.
Metric Value
1D Change (%) -2.44%
3D Change (%) -3.22%
7D Change (%) -3.18%
30D Change (%) -2.98%
90D Change (%) -15.45%
YTD Change (%) -51.69%

Over the past three days, NEXOBTC has fallen by approximately -3.22%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -3.18%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with NEXOBTC maintaining a downward trend of approximately -2.98%, despite intermittent fluctuations. Examining the last 90 days, NEXOBTC has witnessed substantial drop of approximately -15.45%, reflecting strong long-term confidence. Year-to-date, NEXOBTC has steadily depreciated by around -51.69%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

NEXO Live Chart:

You can access a live price chart for NEXO-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.26543.
  • Momentum score is -0.0298.

NEXO BTC Technical Analysis

NEXO Trading Volume:

The trading volume for NEXO (NEXO) over the past 24 hours has been insignificant, with approximately 309,920.19 BTC traded against NEXO. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): NEXO is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): NEXO is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for NEXO-BTC is currently in the low zone, around 44.94694. This suggests that NEXO is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

NEXO (NEXO-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Explore potential downturns for NEXO (NEXOBTC) at 1.92e-05 BTC, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.

For a deeper dive into the subject, don’t miss our comprehensive analysis on NEXO USDT NEXO Technical Analysis if you found this post intriguing.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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